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PERFECT PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed first-degree price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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AVERAGE PROPENSITY TO CONSUME The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for neighborhood pets, especially belligerent parrots.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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AFBD
Association of Futures Brokers and Dealers (UK)
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